Dateline 2014-06-18, The Lawyer (hah!):
Asia Oil Terminal Services (AOTS), advised by DLA Piper, has signed construction contracts with supporting guarantees for the development of its project to construct south-east Asia’s largest independent oil terminal facility. The facility will be constructed on the East Coast of Peninsula Malaysia by China Railway Construction Bridge Engineering Group (CRCBEG).
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Malaysia, oil and gas | Tagged: AOTS, CRCBEG, Tanjung Agas | 
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Posted by Wata
Dateline 2014-06-19, WSJ:
Lundin Petroleum AB (TSX:LUP)(OMX:LUPE) (Lundin Petroleum) is pleased to announce that it has commenced the first well in its 2014 Malaysian drilling campaign with the spud of the Tembakau-2 appraisal well in Block PM307, offshore Malaysia.
The well will target stacked gas reservoirs in Miocene aged sands in a large, low-relief, structure discovered by Lundin Petroleum’s Tembakau-1 in late 2012. The discovery well penetrated 60 metres of net gas sands in five high quality sand intervals between 800 metres and 1,250 metres subsea. The appraisal well will core the main reservoir section and is expected to confirm the extent and quality of the gas reservoirs 3.7 kilometres to the south of Tembakau-1. Deliverability will be measured through production testing.
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Leave a Comment » | Malaysia, oil and gas | Tagged: Lundin, Tembakau | Permalink
Posted by Wata
Dateline 2014-06-16, FMT:
In Malaysia, the politics of oil royalty has always hogged the limelight. It has always been a useful agenda to seek public attention. Thus, the recent bill introduced by newly-appointed Sarawak Chief Minister Adenan Satem in the State Legislative Assembly to increase oil royalty from 5% to 20% has caught public attention.
The fact that the federal government has also agreed to seriously consider the proposal has given the people in the state new-found hope.
Demanding higher royalty is not a new political agenda for both Sabah and Sarawak. In fact, it is a long overdue issue. Let’s take a brief glance at history. Before the formation of Malaysia, the United Kingdom had declared rights over the Malaysian continental shelf for Sabah and Sarawak. Basically this meant ownership rights over offshore resources including petroleum.
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Posted by Wata
Dateline 2014-06-14, The Star:
HOW much control should Special Purpose Acquisition Companies (SPACs) exert over the assets they acquire? This is a question that is increasingly becoming a moot point with listed SPACs.
Here’s one indication of this: According to sources, Reach Energy Bhd, the oil and gas SPAC seeking a listing on Bursa Malaysia, has tweaked one the clauses in its prospectus relating to control over the assets it hopes to buy. It has now stipulated that it will seek to secure majority control over the assets it buys into.
Apparently this was done to ensure there was no confusion in this area going forward.
SPAC guidelines from the start, had a very strict view on this matter. The rules initially required SPACs to secure both majority ownership and management control over the assets they buy. Subsequently, the rules were loosened after taking into consideration the dynamics of certain industries such as the minerals and resources industry that includes oil and gas.…
Leave a Comment » | Malaysia, oil and gas | Tagged: Reach Energy, SPAC | Permalink
Posted by Wata
In the industry, you use a throttling valve to regulate the flow of fluid. This type of valve may be a globe valve, needle valve, or some other type of that ilk. The valve may not be designed to ensure that, at full closed position, liquid cannot seep through the valve.
Adhering to the Unix philosophy, the isolation task is taken up by a block valve, which can be a gate valve, ball valve, butterfly valve (not so much).
Here’s an example in civilian life where a globe and ball valve are used in series to allow control of the water rate, yet guarantee a tight-shut off to conserve resources.
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Dateline 2014-06-13, Jakarta Globe:
Canada’s Talisman Energy is reviewing its Asian oil and gas portfolio, valued at about $4 billion, which could lead to a partial or full sale, people familiar with the matter said.
Talisman, Canada’s number five independent oil producer, has been slimming its operations and cutting debt in an effort to boost its share price to satisfy disgruntled and activist investors such as Carl Icahn.
The review marks a major shift in business strategy for a company that classifies its Asian portfolio as a core asset, and the review will force Talisman to make some tough choices.
It is unclear whether it will opt to sell the entire portfolio or retain some assets, the people added. A partial listing of the assets is one of the options being discussed, they added.
Talisman plans to put $2 billion worth of assets on the market in the next 12 to 18 months, after raising $6.6 billion through asset disposals since 2011, according the company website. The company does not disclose the names of the projects it plans to sell as part of its restructure.
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Posted by Wata
Eid Mubarak.
Buy my recommendations, or through my Amazon store. Or get the Young Turks series (all 4 books). Where are those corporate sponsors? Or throw donations at me. I need RM360 to get The Star ePaper.
Support your local bookshop! Bookalicious at The Summit Subang is a good choice. I think they focus on trilogies, quadrilogies, and other ologies. Tell them I sent you, and enjoy the look of perplexity on their faces. Those of you who have dropped my name, thanks!
Food choice of the week? How if you visit Vietnam, how about visiting and updating GoHalalVietnam! for your food needs. For your other needs, talk to your local tour guide/ concierge / man on the street.
Some books for you to turn those bad numbers’ frown upside down.
Proofiness: The Dark Arts of Mathematical Deception, Bad Science: Quacks, Hacks, and Big Pharma Flacks, How to Lie with Statistics
Leave a Comment » | engineering, Malaysia, oil and gas | Tagged: Bookalicious, Murphy | Permalink
Posted by Wata
Dateline 2014-6-12, Rigzone:
Scomi Energy Services Bhd (SESB or Company) announced Wednesday that Ophir Production Sdn Bhd (OPSB), a joint venture firm — in which SESB’s wholly-owned subsidiary Scomi D & P Sdn Bhd (SDP) has a 30 percent interest — signed a seven year Small Field Risk Service Contract (SFRSC) with Malaysia’s national oil and gas company Petroliam Nasional Berhad (Petronas) June 11 to develop and produce petroleum from the Ophir field, offshore Terengganu, Malaysia.
OPSB will execute the approved Field Development Plan (FDP) with planned development activities, which include the drilling of wells, the installation of a production platform and export and storage of oil via a floating storage facility. The development phase will cost an estimated $135 million, with first oil production expected in 18 months.
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Leave a Comment » | Malaysia, oil and gas | Tagged: Octanex, Petronas, Scomi, Vestigo | Permalink
Posted by Wata
Dateline 2014-06-12, South China Morning Post:
Malaysia is hunting for a group of machete-wielding pirates who hijacked a tanker off its eastern coast, stealing a million litres of oil, in the latest in a spate of attacks in its waters, an official said on Thursday.
Pirates hijacked the Malaysia-registered tanker MT Budi Mesra Dua last Saturday off Bintulu in the oil-rich Sarawak state as the ship sailed from neighbouring Singapore.
“Ten machete-wielding pirates boarded the ship, which was carrying about a million litres of diesel. They took control of the tanker for about 10 hours,” Mohamad Sufi Mohamad Ramli, a local commander with the Malaysian Maritime Enforcement Agency said.
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Posted by Wata
Dateline 2014-07-11, The Malay Mail (I used to love reading this paper in Egypt):
Malaysia should adopt an international standard on the handling of oil, gas and mineral revenue to provide clarity on how Putrajaya spends the tens of billions in petroleum revenue it receives yearly, a PKR MP said today.
Lembah Pantai MP Nurul Izzah Anwar said the Norway-based Extractive Industries Transparency Initiative (EITI) would publicise the details of contracts and enable the Malaysian public to know how much oil and gas companies are paying Putrajaya.
She also pointed out that Myanmar, which is regularly accused of being repressive, has announced that it would implement the EITI.
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Leave a Comment » | Malaysia, oil and gas | Tagged: Nurul Izza | Permalink
Posted by Wata
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Wata - Malaysian Oil and Gas Engineer 